Chinese steel pipe export offer prices move sideways

Wednesday, 02 November 2022 13:35:13 (GMT+3)   |   Shanghai
       

During the week ending November 2, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, moving sideways compared to October 26, while export offers for API 5L seamless pipe given by Chinese suppliers are at $580-600/mt FOB, December shipment, remaining stable compared to that on October 26.

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

API 5L seamless pipe

Gr.B

2’’-6’’ Std

590

-

Seamless pipe, casing (hot rolled forming)

J55

3’’-8’’ Std

600

-

Seamless pipe, tubing (cold drawn forming)

ST37

< 3’’ Std

680

-

Welded pipes

Gr.B

2’’-6’’ Std

565

-

During the given week, steel pipe prices have moved sideways amid repeated outbreaks of the Covid-19 pandemic which negatively affected production and transportation. The demand for steel pipes has been slack in northern China as the cold weather is approaching. Following continuous declines in rebar futures prices, they indicated a rebounding trend over the past two trading days, which will bolster the steel pipe market. It is thought that steel pipe prices may continue their fluctuating trend in the coming week.

Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,485/mt ($483/mt) on November 2, down by RMB 95/mt ($13.2/mt), or 2.65 percent compared to October 26, while up by 1.25 percent compared to the previous trading day, November 1.

$1 = RMB 7.2197


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